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Tweet Sentiment Index for the Forex and Stock Market
Tweet Sentiment Analysis is a website (tweetsentiments.com) that analyses tweets for a given keyword. It uses Support Vector Machines algorithm and a natural language processing tool (NLP) to determine whether a tweet's sentiment is positive, negative or neutral. Support Vector Machines is a learning algorithm that is mainly used in classification problems.
Given the number of positive, negative and neutral tweets for the specified keyword (tweets that contains this keyword), a sentiment index is calculated. This sentiment index as well as the number of positive and negative tweets are downloaded by this trading item.
In the "keyword" tab, you can specify one or several keywords you want to get their sentiment indices and the item will get this data and associate it with new symbols. Example: for the keyword "Stock Market", the item will create a new ticker symbol "^tweetsen_stock_market" and a new database called "tweetsentiment".
The close price of this symbol will get the sentiment index. This sentiment index is also stored in the "tweetsentiment" database along with the number of positive, negative and neutral tweets. "tweetsentiment" is an intraday database and therefore the sentiment index is stored in an intraday and historical (quotes) databases.
To collect data, you can run this item one or several times per day. You can set keywords such as "Stock Market", "Forex"... in the "keyword" tab to get the general investors/traders sentiment or you can set specific stock symbols ($GOOG, $YHOO) or Forex currencies ($EURUSD). When setting an asset symbol you should precede it by the dollar symbol.
If you want to download tweets data for your favorite securities use StockTwits and Forex Tweets.
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This downloader no longer works. Tweetsentiments became a private product.
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Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
